European startup funding Nov 2025
Monthly report · 2025-11-01 – 2025-11-30 · vs Oct 2025
Monthly
Summary
auto-generatedIn Nov 2025, 284 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €3.9B, down 43.3% versus Oct 2025. Debt rounds added a further €672M.
Deal count moved -18.4% versus Oct 2025, with 800 named investors participating.
Germany led by equity raised with €674M (17.1% of equity).
Fintech was the most-funded sector at €551M in equity (14.0%).
The ten largest rounds accounted for 50.5% of disclosed capital, led by Capital on Tap's €568M.
62 exits were recorded this month worth a combined €798M.
Equity funding
€3.9B
▼ -43.3%excl. debt & grants · +€672M debt
Funding rounds
284
▼ -18.4%Companies funded
284
▼ -18.4%Named investors
800
▼ -14.9%Exits
62
▼ -4.6%Provenance: 92% of 284 rounds disclosed an amount · 94% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.08%
Methodology →Investments
Funding within Nov 2025
by dayFunding within Nov 2025 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €1.1M | 1 |
| 02 | €0 | 0 |
| 03 | €84M | 9 |
| 04 | €26M | 6 |
| 05 | €296M | 27 |
| 06 | €388M | 19 |
| 07 | €60M | 5 |
| 08 | €0 | 0 |
| 09 | €0 | 0 |
| 10 | €0 | 0 |
| 11 | €321M | 23 |
| 12 | €4.0M | 2 |
| 13 | €402M | 35 |
| 14 | €32M | 7 |
| 15 | €0 | 0 |
| 16 | €0 | 0 |
| 17 | €146M | 3 |
| 18 | €306M | 19 |
| 19 | €654M | 25 |
| 20 | €7.9M | 2 |
| 21 | €1.3B | 24 |
| 22 | €0 | 0 |
| 23 | €0 | 0 |
| 24 | €4.4M | 2 |
| 25 | €125M | 21 |
| 26 | €140M | 16 |
| 27 | €51M | 14 |
| 28 | €299M | 24 |
| 29 | €0 | 0 |
| 30 | €0 | 0 |
Biggest deals
top 10 by amount- 1Capital on TapDebt · UK · Nov 2025€568M
- 2PicnicOther · Netherlands · Nov 2025€430M
- 3SpotawheelOther · Greece · Nov 2025€300M
- 4HoloSolisOther · France · Nov 2025€220M
- 5Quantum SystemsSeries C · Germany · Nov 2025€180M
- 6ZilchOther · UK · Nov 2025€151M
- 7FlatpayOther · Denmark · Nov 2025€147M
- 8DistalMotionSeries D+ · Switzerland · Nov 2025€130M
- 9Ferroelectric Memory CompanyOther · Germany · Nov 2025€100M
- 10NestAIOther · Finland · Nov 2025€100M
Concentration
top 10 deals50.5%
of disclosed capital came from the ten largest rounds.
Top 10 total
€2.3B
Period total
€4.6B
Countries
Top countries
equity raisedNov 2025 — top countries — interactive chart.
Data table
| Nov 2025 — top countries | |
|---|---|
| Germany | €674M |
| Netherlands | €620M |
| UK | €603M |
| France | €553M |
| Switzerland | €427M |
| Greece | €300M |
| Denmark | €173M |
| Spain | €129M |
| Finland | €114M |
| Sweden | €80M |
Capital by country
share of equityNov 2025 — capital by country — interactive chart.
Data table
| Nov 2025 — capital by country | |
|---|---|
| Germany | €674M |
| Netherlands | €620M |
| UK | €603M |
| France | €553M |
| Switzerland | €427M |
| Greece | €300M |
| Denmark | €173M |
| Spain | €129M |
| Finland | €114M |
| Sweden | €80M |
| Other | €261M |
Geographic distribution
European countries shown · click a countryNov 2025 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedNov 2025 — top sectors — interactive chart.
Data table
| Nov 2025 — top sectors | |
|---|---|
| Fintech | €551M |
| Software | €495M |
| E-commerce | €484M |
| Transportation | €454M |
| Healthtech | €422M |
| Energy | €344M |
| Robotics | €293M |
| AI | €159M |
| Semiconductors | €145M |
| Space | €141M |
Capital by sector
share of equityNov 2025 — capital by sector — interactive chart.
Data table
| Nov 2025 — capital by sector | |
|---|---|
| Fintech | €551M |
| Software | €495M |
| E-commerce | €484M |
| Transportation | €454M |
| Healthtech | €422M |
| Energy | €344M |
| Robotics | €293M |
| AI | €159M |
| Other | €759M |
Stages
Funding by stage
total euro raised by round typeNov 2025 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €45M |
| Seed | €241M |
| Series A | €503M |
| Series B | €343M |
| Series C | €232M |
| Series D+ | €229M |
| Growth/Late | €7.7M |
| Debt | €672M |
| Grant | €803k |
| Crowdfunding | €35M |
| Other | €2.3B |
Exits
Exit activity
62
exits recorded
€798M
combined disclosed value
Exits breakdown
by typeNov 2025 — exits by type — interactive chart.
Data table
| Nov 2025 — exits by type | |
|---|---|
| Acquisition | 60 |
| Merger | 2 |